THE MONEY: Personal wealth gained almost 60 percent in last two years as Air Lease Corp.’s revenue jumped. Holds 5 million shares, nearly 5 percent, making him fourth-largest shareholder. Gains seen from stock awards and appreciation of diversified portfolio of stocks, bonds, art and real estate.
BUZZ: Demand for leasing services continued to grow as global aircraft fleet expanded. Four-year-old Air Lease not largest player in market, though certainly one of the best performers. Revenue jumped by nearly one-third to $859 million in 2013; stock rose 36 percent in past year. Founder and chief executive expressed confidence in industry’s future growth. Air Lease, with fleet of 193 planes, concluded 2013 with record 327 aircraft on order, to be delivered through 2023. Credited with inventing airline leasing business in 1970s while student at UCLA. Became one of wealthiest Angelenos when International Lease Finance Corp. sold to insurance giant AIG in 1990. Continued to run company for 20 years until he left to build rival Air Lease in 2010. Aviation fanatic has pilot license.
$3.84 billion s11%
LAST YEAR: $3.45 billion
RESIDENCE: Beverly Hills
SOURCE OF WEALTH:
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